Short Interest in TSAKOS ENERGY N/SH (NYSE:TNP) Grows By 25.0%

TSAKOS ENERGY N/SH (NYSE:TNP) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 331,900 shares, a growth of 25.0% from the May 30th total of 265,600 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 122,100 shares, the short-interest ratio is currently 2.7 days.

Institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR boosted its holdings in shares of TSAKOS ENERGY N/SH by 43.3% in the first quarter. Stephens Inc. AR now owns 32,348 shares of the shipping company’s stock valued at $100,000 after buying an additional 9,778 shares during the period. California Public Employees Retirement System boosted its holdings in shares of TSAKOS ENERGY N/SH by 1.9% in the fourth quarter. California Public Employees Retirement System now owns 465,821 shares of the shipping company’s stock valued at $1,239,000 after buying an additional 8,798 shares during the period. Foundation Resource Management Inc. boosted its holdings in shares of TSAKOS ENERGY N/SH by 0.9% in the second quarter. Foundation Resource Management Inc. now owns 480,816 shares of the shipping company’s stock valued at $1,582,000 after buying an additional 4,339 shares during the period. Finally, Camarda Financial Advisors LLC boosted its holdings in shares of TSAKOS ENERGY N/SH by 3.1% in the first quarter. Camarda Financial Advisors LLC now owns 621,703 shares of the shipping company’s stock valued at $1,927,000 after buying an additional 18,574 shares during the period. Institutional investors own 22.42% of the company’s stock.

TNP has been the subject of several recent analyst reports. Seaport Global Securities reaffirmed a “buy” rating on shares of TSAKOS ENERGY N/SH in a research note on Friday, March 29th. Zacks Investment Research raised shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Wednesday, June 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. TSAKOS ENERGY N/SH presently has a consensus rating of “Buy” and a consensus price target of $4.38.

Shares of NYSE:TNP opened at $3.40 on Friday. TSAKOS ENERGY N/SH has a 52 week low of $2.56 and a 52 week high of $3.73. The company has a quick ratio of 0.99, a current ratio of 1.06 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average price of $3.19.

TSAKOS ENERGY N/SH (NYSE:TNP) last issued its earnings results on Thursday, June 6th. The shipping company reported $0.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The firm had revenue of $115.48 million during the quarter, compared to the consensus estimate of $122.78 million. TSAKOS ENERGY N/SH had a negative net margin of 13.80% and a negative return on equity of 0.64%. On average, research analysts anticipate that TSAKOS ENERGY N/SH will post 0.13 EPS for the current year.

TSAKOS ENERGY N/SH Company Profile

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 20, 2018, it operated a fleet of 64 double-hull vessels, including 59 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.

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